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You are a 60% owner of an S corporation. Calculate your ending stock basis, based...

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Accounting

You are a 60% owner of an S corporation. Calculate your ending stock basis, based upon these facts.

Beginning stock basis $52,600

Purchases of additional stock 15,000

Insurance premiums paid (nondeductible) 3,600

Tax-exempt interest income 5,230

Payroll tax penalty 3,770

Decrease in AAA 22,400

Decrease in OAA 5,800

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